1,113 Shares in Range Resources Corporation $RRC Acquired by Caitong International Asset Management Co. Ltd

Caitong International Asset Management Co. Ltd bought a new position in shares of Range Resources Corporation (NYSE:RRC) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,113 shares of the oil and gas exploration company’s stock, valued at approximately $45,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hollencrest Capital Management bought a new position in shares of Range Resources during the 1st quarter worth approximately $33,000. Bessemer Group Inc. raised its position in Range Resources by 48.0% in the 1st quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company’s stock valued at $39,000 after purchasing an additional 315 shares during the last quarter. Cullen Frost Bankers Inc. bought a new position in Range Resources in the 1st quarter valued at $39,000. Barrett & Company Inc. bought a new position in Range Resources in the 2nd quarter valued at $41,000. Finally, Ameritas Advisory Services LLC bought a new position in Range Resources in the 2nd quarter valued at $47,000. Institutional investors own 98.93% of the company’s stock.

Range Resources Stock Up 0.3%

NYSE RRC opened at $37.61 on Friday. The stock has a fifty day moving average of $35.84 and a 200-day moving average of $36.83. The stock has a market capitalization of $8.96 billion, a P/E ratio of 18.90, a price-to-earnings-growth ratio of 0.42 and a beta of 0.51. Range Resources Corporation has a 52 week low of $29.48 and a 52 week high of $43.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.55 and a current ratio of 0.55.

Range Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, September 12th. Range Resources’s dividend payout ratio (DPR) is 18.09%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RRC. Citigroup cut their price objective on Range Resources from $40.00 to $39.00 and set a “neutral” rating for the company in a research report on Tuesday, September 23rd. Royal Bank Of Canada lifted their price objective on Range Resources from $45.00 to $46.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 8th. Barclays lifted their price objective on Range Resources from $39.00 to $44.00 and gave the company an “equal weight” rating in a research report on Monday, July 7th. Raymond James Financial cut their price objective on Range Resources from $45.00 to $41.00 and set an “outperform” rating for the company in a research report on Friday, September 19th. Finally, JPMorgan Chase & Co. cut their price objective on Range Resources from $46.00 to $44.00 and set a “neutral” rating for the company in a research report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $42.05.

About Range Resources

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.